Gift Deed Format for Immovable Property in Hindi

Once a deed of gift of property has been signed for the benefit of a beneficiary, the donor does not have the right to revoke or annul the deed at a later date, unless a specific clause is mentioned in the deed. Section 126 of the Transfer of Ownership Act provides for a situation in which a deed of gift may be revoked by the donor. For example, if the property was donated for the beneficiary to live on, after the death of the beneficiary, the property is transferred to the donor during his lifetime, if not to the beneficiary`s heirs. However, these details must be explicitly mentioned in the deed of gift. If the property is given to a minor, his legal guardian must accept it on behalf of the minor. The minor may also accept or return the gift if he or she chooses to do so after reaching the legal age. Yes, registration with the Sub-Registrar is required for the gift of immovable property under section 123 of the Transfer of Ownership Act 1882 and section 17 of the Registration Act 1908 For the registration of the deed of gift, the deed of gift containing all the clauses (as mentioned above) must be written on stamp paper. The donor and recipient must sign all sides of the donation deed and be certified by at least two witnesses. The recipient must accept the donation during the donor`s lifetime and if it is clear in mind for it to be valid. The gift of immovable property takes effect when the deed of gift is registered with the registrar or deputy registrar responsible. The gift of movable property is effective when the deed of gift is registered or by the delivery of the property. When the deed of gift is registered, the transfer of ownership from the donor to the receiver takes place immediately and the parties do not have to apply to the court for its execution.

A deed of gift is only valid if it is given out of love and affection, regardless of one family member/friend to another. According to section 17 of the Registration Act 1908, it is mandatory to have a registered deed of gift if you wish to transfer real estate. There are two parties in an act of giving, that is, the donor and the receiver. The donor is the person who donates his or her property, and the recipient is the person to whom the property is given. The donor must have a good mind and must be able to make arrangements at the time of donation. None in the case of a blood relative or otherwise 6% of the value of the property. I further confirm that the gift is ___________drawn_________________ this gift is irrevocable and that I am no longer entitled to the said gift amount and that he is free to use it in any way. LOCATION: DATE: ____ But instead of a sale consideration in a deed of sale, you can use a deed of gift to transfer ownership without currency exchange. Registration of a deed of gift with the Sub-Registrar is mandatory under section 17 of the Registration Act 1908 and section 123 of the Transfer of Ownership Act. If you do not do so, the transfer is not valid. Therefore, if the donation was made by obtaining consent for the above reasons, it can be revoked.

And in the event of the death of the donor, his heirs have the right to request the revocation of the act. However, under section 126 of the Transfer of Ownership Act, 1882, there are certain reasons why gifts can be revoked. The revocation itself implies the annulment of the deed of donation and possession of the property is returned to the donor. The reasons are as follows: No, once the property has been transferred by the registered deed of gift, the donor cannot recover the property unless the donor proves that the deed of gift was made under threat, coercion, undue influence or against will. There are several ways to transfer a property you own. It can be a sale, a will or a gift. A commonly used method, especially when transferring to a family member or friend, is the execution of a deed of gift in favor of the recipient. Although no monetary transaction is involved, it is still necessary to register the deed of gift in order to make the transfer valid. Both donors and recipients can challenge the donation. In the event of the death of one of the parties, their legal heirs may take legal action. 2.

Avoids possible future disputes that may arise in connection with the property. After that, the deed of gift, depending on the value set by the state government, must be printed on stamp paper after payment of the required amount and the deed must be registered with the registrar or the office of the sub-registrar….